I will be sharing my share my first experience of importation business in Nigeria, my mistakes that cost me over $100,000 and lessons learned.

I hope someone learns from some of my mistakes.

In 2008 April, I registered my first company Bazz Global Concept Ltd, got my first product Bazz Tomatoes registered with NAFDAC and secured my trademark. The product was produced in the Southern city of Italy called Salerno.

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NAFDAC remarked that the product was one of the best.

Advantages and Disadvantages of Importation Business in Nigeria

I secured an office, warehouse, vehicles for distribution, staff and distributors in Lagos mainly in Trade Fair and Ebutte Ero markets. (It’s very important in recruiting staff to make sure you recruit entrepreneurs who are committed to achieving the set goals and objectives)

Do not employ staff who are only interested in getting their salaries or because they are related to you. That’s a huge mistake. You are not in biz to satisfy family members especially those who feel entitled to your money and perceived success.

The first mistake was entrusting a brother who was not committed to the success of the business. You can love and care for your people from afar but focus on those who are not just competent but passionately committed to the success of your vision.

The business started successfully in August 2008 when our first shipment of 5 20ft containers of tin tomatoes arrived. We sold all of them within 2 months and also did massive market storms in different markets in Lagos which was successful.

We embarked on a round of radio adverts and jingles which at the time was not necessary. It was a waste of resources. In doing business, ensure that you are frugal with your money and only invest in things that will increase your sales and profits.

Explore avenues where you could achieve sales and profits without unnecessary expenses. Research and focus of minimizing expenses and increasing profits.

We had a warehouse which we could use as office so we didn’t need the office space we rented.(A mistake you should avoid)

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